The advertisement said the current tax code includes a loophole that allows corporations to "move facilities and jobs out of state and get a tax break.”

Proposition 39 would change corporate taxes so companies with more operations based out-of-state would have to pay more.

The additional revenue, an estimated $1 billion annually, would be split between alternative-energy projects and the state's general fund for five years. After that, it would all go to the general fund.

A recent USC Dornsife/Los Angeles Times poll said the initiative has 51% support among registered voters. Only 29% disapprove.